In an update notification on Slice app, the company said starting June 1 paying in full will continue to be interest free and interest will be levied when customers slice the bill in two or more installments. For any other usage in previous billing cycles which were sliced into 2 or 3, any interest charged is being fully refunded by Slice through cashbacks. It was available only for SELECT customers with good credit score inc42.com/buzz/jupiter-kreditbee-shut-prepaid-card-operations-amid-rbis-credit-ban-on-fintech-ppis/ And here is a clarification for people who want clarity about Jupiter. Although Jupiter is not the same as Slice, they have a restriction with PPI which is the subject of the video inc42.com/features/will-rbis-circular-for-non-bank-ppis-serve-a-death-blow-to-some-star-fintechs/
@DisInterestedGuy
2 жыл бұрын
That is because Slice is in huge losses. They aren't able to generate revenue yet, Uni cards might have to do same thing in future.
@adityajoshi7
2 жыл бұрын
As far as I know, NPCI will be launching a BNPL option in coming future. So lets wait for it.
@AmalDevYT
2 жыл бұрын
Jupiter is neo bank not pay later
@divotiontogod
2 жыл бұрын
"if you use this feature to buy *unnecessary* stuff to impress *unnecessary* people, you will fall into *unnecessary* trouble" 😂👍 good one!!
@rishabhpaul15
2 жыл бұрын
Bruh, it's about damn time you start pronouncing "their" the way it is, than calling it as "they're"!
@deepGanguly98
2 жыл бұрын
“Buying unnecessary stuff to impress unnecessary people” Reasons why I religiously follow this channel.
@feministba
2 жыл бұрын
😆😆
@SumitSinha_ArtFreak
2 жыл бұрын
True but not the case all times ..people buy things which they need or like to have
@beactivebehappy9894
2 жыл бұрын
He just made his own version of the quote said in the news article, "people use bnpl for buying things they don't need with the money they don't have"
@aniketmg
2 жыл бұрын
i precisely did this few years ago...and now still reeling under debt burden while she left for another better-paid labourer "bought unnecessary stuff for that unnecessary person"
@deepGanguly98
2 жыл бұрын
@@aniketmg really sad to hear bro it’s good you avoided a red flag
@runormaxi6209
2 жыл бұрын
ACCURATELY SPOKEN to INVESTMENT EXPECIALLY IS REALLY PROFITABLE NOWADAYS
@philiphoffman5777
2 жыл бұрын
Bitcoin is the most profitable investment online if only you trade with a professional broker
@jasperslims6212
2 жыл бұрын
Share your personal success stories
@dianajunior4026
2 жыл бұрын
ACCURATELY SPOKEN BITCION
@PETER-th5lf
2 жыл бұрын
Buying now is not a bad idea especially now that the current rise of bitcoin is high
@judemichael8370
2 жыл бұрын
he's man made of FX
@LalitPatilcasper
2 жыл бұрын
From making video on Cred's business model to getting actually sponsored by Cred for a video. Ganesh and team have done a phenomenal job in achieving this milestone! Many congratulations :D
@Vinothmanick
2 жыл бұрын
When cred sponsors ur video it shows ur growth been following up from 30k subs
@mohank5270
2 жыл бұрын
Good presentation. Video is only projecting more of rosy picture but very very less of thorns below. Take lessons from other countries where it has failed miserably. It is not right to introduce with out proper regulation. If you see on news during covid times many people got loan from mobile apps, which are unregulated and people who took loans are tortured and blackmailed for recovering and Many people who took loan has committed suicide. What is the guarantee that this bnpl also does not resort to such recovery methods? I agree bnpl is needed with regulations by statutory body for fixing responsibility and countries positive growth.
@parodayn2594
2 жыл бұрын
😀😀😀
@saisubhash1
2 жыл бұрын
It was a paid promotion dude. CRED is a shitty company, overvalued and over marketed.
@dilsere1775
2 жыл бұрын
@@mohank5270 completely agree.
@sagarsahu2355
2 жыл бұрын
I studied more case studies through this channel than in my whole MBA curriculum and the nice part being I remember most of them. Thanks for such insights 👏
@abjee1602
2 жыл бұрын
The case studies and videos are really entertaining, there is no doubt about that. But will watching them make anyone a really effective manager or a successful entrepreneur? I don't think so.
@akshayjain6290
2 жыл бұрын
@@abjee1602 not directly but the it's just that is broadens your perspectives and that translates into you being more effective and all other good jazz
@aannkkiitt
2 жыл бұрын
@A46 Vishnuu D Patil codes, coding
@realnileshpawar
2 жыл бұрын
Buy now, pay later is a soft debt trap for middle class families.
@azimkhan4805
2 жыл бұрын
Same way credit to small competition businesses kill the businesses only large company should get credit because big company and big business never bankrupt
@laveshmaheshwari8573
2 жыл бұрын
No bro it's not like that If they used bnpl apps wisely it can be the best
@ghostofantarctica8216
2 жыл бұрын
@@laveshmaheshwari8573 And you expect an average person to be wise?
@Mrjain8555
2 жыл бұрын
@@laveshmaheshwari8573 Bhai Tu marwari hai Tu samjtha hai.. baaki log nahi samjthe
@idzkk
2 жыл бұрын
The lending partners of all these apps are banks themselves.
@mitracoolshoubhik
2 жыл бұрын
When I heard for the first time about BNPL, I was getting a sense of 2008 subprime crisis. And with India where majority people income less than 20-25k pm, there's a high chance of similar situation playing around!
@akshayjain6290
2 жыл бұрын
Yeah i also thought the same
@thomsondcruz
2 жыл бұрын
At least in sub prime crisis there was a collateral which was the home. Here there is nothing. Dangerous
@Anuj_Tomar
2 жыл бұрын
Love RBI , RBI is the regulator who is seriously saving a ton of scams in india. - OTP for credit cards, scam risk is 0 with same, in other countries it is a huge risk and exploited a lot - Sense of security while investing on demat apps, as money can be added/withdrawn to linked & KYCed account only - UPI is another gem
@pradeetswamy7124
2 жыл бұрын
So true, RBI and NPCI are doing a tremendous job 👏
@randyorton06
2 жыл бұрын
1) otp for credit card is so useless like bruh you need to see your phone and working simcard to transact to prrotect idiots who get phished and scammed by their dumb countrymen 2) indian demat apps are joke cant sell equity without otp lmfao what 3) its literally just a bad copy paypal with joke of a daily limit rbi is only good at hindering tech growth and printing more inr. not that i give a crap since i dont have any inr anyways bnpl was only good thing seamless transaction which this stopid people banned coz muh you will spend more like bruh gtfoh i know what i do you neednt wory mate. india is only good at being poor and getting scammed by their gov and remain a third world country forever
@AmitSingh-sw8qb
2 жыл бұрын
In India your money is safe almost everywhere. And if you still get managed to be in fraud, then there’s something seriously wrong with you only.
@junglee-bee
2 жыл бұрын
But OTP on Credit Card is applicable on gateways hosted within India only. If a foreign hosted gateway is used then no OTP and amount is directly debited. Just FYI
@arunroy9997
2 жыл бұрын
I hate them.... they r worms to innovation I'm 22 and i greatly benefited from slice.....zest money......yes rbi should make rules so credit is given to credit worthy But shameless is rbi....most of people in my college had befitted
@vsbelieve
2 жыл бұрын
As a regular Slice Customer i would like add the point that Slice no longer let's you split the bill in 3 parts(without interest instead it charges a hefty interest) if you try to split it even for 2 months. They literally abandoned the meaning of their own name 'SLICE' coz you can't slice it anymore without paying a interest as high as 36%.
@favorablechanges
2 жыл бұрын
Right here
@junglee-bee
2 жыл бұрын
So, you have been slicing your bill 🤔 How has that affected your CIBIL score? Did anything come up as an unsecured loan?
@vsbelieve
2 жыл бұрын
@@junglee-bee i didn't slice my bill till date as i had the funds to pay it back after each month. But i know that Slicing your bill was interest free for first 3 months but not anymore and my credit score is pretty good tbh.
@zubaankesari9959
2 жыл бұрын
Yes bro, 3 months no interest scheme has been removed , now they are charging interest if it is more than 1 month.
@sheilakijawani2526
2 жыл бұрын
How to check cibil score? Can one have it even without having a credit card issued to their name?
@MrIndia360Degree
2 жыл бұрын
This is a hint given by RBI, SOONER OR LATER financial crisis will come.. This helps the middle class people to avoid buying things which they cannot afford.
@pratikdedhia
2 жыл бұрын
Yeah, I was also thinking the same
@isha8229
2 жыл бұрын
very true
@kadarkarairajI
2 жыл бұрын
Is it economic crisis or financial crisis?
@MrIndia360Degree
2 жыл бұрын
@@kadarkarairajI in macro level it is economic crisis... In micro level, it is financial crisis.. Here and there, both are same in general terms.
@zoho6992
2 жыл бұрын
they are monitoring other countries situation like South Korea and China and others .
@kevinsalmador739
2 жыл бұрын
What a line "If you use it to buy unnecessary stuff to impress unnecessary people, it's going to land you in trouble" Very important teaching
@abhinavnegi4859
2 жыл бұрын
Think School (Ganesh), you're perhaps one of the best few channels on economy, geopolitics, and general world affairs I have ever seen. With unbiased and education-based content you continue to inspire all Indians to keep themselves well informed. Hats of to you man! __ First comment btw
@ThinkSchool
2 жыл бұрын
Thanks bro
@nayanpandey7809
2 жыл бұрын
Yes he is one of the best, But I would also like to suggest you to watch world affairs by Prashant Dhawan sir. He is great if you need knowledge about geopolitical news.
@markjokerberg
2 жыл бұрын
@@nayanpandey7809 true
@siddhantatiwari475
2 жыл бұрын
@@ThinkSchool Keep up the good work bro!!
@abhinavnegi4859
2 жыл бұрын
@@ThinkSchool OMG can't believe you replied! Thanks man :)
@ArjunGupta-nx7xi
2 жыл бұрын
best part along with wonderful presentation and knowledgeable content is the topics which you choose, really you are working very hard Ganesh and kudoz to your team also who work so hard at the back end to provide us with these videos...the quality of videos has really upgraded since past 3-4 months
@adityakamath5263
2 жыл бұрын
Such a big debt trap, when you have money in your account you still try to pay from cards like slice and uni because it makes you feel you aren't spending own money but in real you are losing more money.
@manojd8571
2 жыл бұрын
How ?
@thararamesh315
2 жыл бұрын
True!
@vedsaga
2 жыл бұрын
@@manojd8571 by paying interest to those companies
@shekharsoni4148
2 жыл бұрын
@@vedsaga abe time se pay karna free padta hai bnpl me
@vedsaga
2 жыл бұрын
@@shekharsoni4148 but, common man mostly or students get burden by it. Qui ki savi soch samj kar use nahi karte... Aur waise avi ye habit ki starting hai just like jio... But, as people used it more it will become like habit and then after few years they will start charging...
@Xavierpng
2 жыл бұрын
Whole ecosystem of Fintech, Investors, NBFCs, and Banks has came on risk. Because RBI is working on its payment vision of 2025. Here, the main thing is that it will promote digital transactions.
@MrAsohan
2 жыл бұрын
Welcome the famous Xavier uncle
@rivughosh4814
2 жыл бұрын
@@anughimire8337 CBDC bruhh
@pratiklokhande7735
2 жыл бұрын
Xavier extra intelligence
@Tensaroxx
2 жыл бұрын
Scrapper bot
@Infrascoops
2 жыл бұрын
@Yash Choudhary better than ...Bhikari KZitemr .....atleast not cursing in the name of parents 😉
@shrenikmahe
2 жыл бұрын
I have been using Slice since my 1st year of engineering. Initially they started offering to only college students and later expanded to all customers. 1. In the 1st phase they provided service to generate gift cards for e-commerce sites, where the voucher amount could be split into EMI with some interest. 2. In 2nd phase they launched a virtual credit card in partnership with Federal Bank for online payment expanding to all sites where the vouchers could not be generated. For me they provided a credit limit of 5000/-. 3. 3rd phase they started providing physical credit cards by increasing the credit limit to 20,000/- so users could also make payments at POS machines. That was a RuPay card. 4. Later they started increasing credit limit to higher value based on CIBIL score and repayment history. Slice tied up with SBM bank for to provide new CC with higher limits upto 55K. I don't agree with BNPL being a debt trap as it all depends on your financial decipline. It has helped me in many emergency and needs. Basically it was the 1st credit card in the house and was very helpful.
@anubhavsharma90
2 жыл бұрын
"it all depends on your financial decipline" Answer to this lies in your statement itself. India is full of illiterates and fools.
@bossman1502
2 жыл бұрын
I agree, when banks are so strict with their credit card policy, it is easier for one to get credit cards through BNPL. Such a policy will only hamper people to avail credit and therefore result in fewer consumer expenditure. Sometimes, government policies do not make sense at all.
@kamalsharma2839
2 жыл бұрын
@@bossman1502 Don't you know how these so-called credit companies cheat ?
@bossman1502
2 жыл бұрын
@@kamalsharma2839 I use slice pay myself and i don't see any issue with it. In fact, it has improved my financial position.
@bossman1502
2 жыл бұрын
@Jitendra Khasnavis True, any credit card is risky if we do not follow financial propriety ourselves. The move made by the RBI is very disappointing.
@emiltjoseph2025
2 жыл бұрын
Wondering how well RBI is proactively taking steps to save youngsters & economy but utterly helpless when it comes to lending for big shots and corporates through consortium of nationalised bank. The scale is much much higher and remember that the public money is looted in the best possible manner. Why the system always makes poor the poorer and rich the richest.
@krishna2555
2 жыл бұрын
Sad reality bro
@saisibi6708
2 жыл бұрын
Honest to god when this trend started, I steered clear from it. I was criticized so much by my colleagues and was told I'm archaic. This concept never really stuck with me. If we can't afford then we can't afford it, done deal. Get to the point where you can afford the item, then buy it. IF it is for your own development, I still think there are better sources to approach than bnpl.
@namishbaranwal3522
2 жыл бұрын
EXACTLY. I mean sure, the microcredit system is good for things like, you know, the classic example of a woman buying a stitching machine to start a clothes business and repaying the loan from the profits; but the way people are using it these days is silly.
@AkumaNoKuma
2 жыл бұрын
if you are a student, it maybe wise to borrow from a friend you can trust or family if it's important
@puneetmishra4726
2 жыл бұрын
So true. Even with hundreds of innovations in finance sector, as a consumer one should strictly follow this mantra "buy only if you can afford". Simple.
@vorrdegard2176
2 жыл бұрын
For every sane person there is 10 idiots around the corner
@anirbanb7374
2 жыл бұрын
Whoa…. How would you buy a home or car without a line of credit…..read mortgage?
@mystic.saurav
2 жыл бұрын
Update/ Correction: SLICE doesn't offer "Split the bill in 3 parts at NO COST" anymore. They moved away from their USP last month. It's a useless card now, as the target customers who purchased it for NO interest Slicing of Bill into 3 months will now have to pay interest if they choose to slice the bill 🤣
@thecrypticmystic28
2 жыл бұрын
How much interest?
@Vstor-su7lj
2 жыл бұрын
@@thecrypticmystic28 for 1000 RS, 60 trnsfer fee + 115 intrest = 1175 for 5 months
@thecrypticmystic28
2 жыл бұрын
@@Vstor-su7lj huge interest
@stephanarul142
2 жыл бұрын
@@thecrypticmystic28 credit card companies usually charge anywhere between 18-36% p.a. interest.
@ArjunSingh-up6gy
2 жыл бұрын
They are theifs
@maheshpatnala
2 жыл бұрын
The Education system could include Personal Finance planning for kids in school which might educate them better. So that in future they can again start the BNPL systems but with some regulations. I feel like Education on Personal Finance/ Personal Budgeting is very much neglected almost everywhere... Thanks for a grt video brother! Edit: I also have a doubt now, wouldn't the move increase the number of unrecognised Loaning companies!? (I mean Unofficial)
@divyanshpathak8804
2 жыл бұрын
Bacche Chutiya hai like me we will skip those classes
@jioboy2676
2 жыл бұрын
School me hi sab padha denge to college kyun he?? Courae specialization kyun he? 😂
@RajatG69
2 жыл бұрын
Cannot be done practically
@justanintellect7760
2 жыл бұрын
@@jioboy2676 most illogical and immature Question.
@soumyajit4286
2 жыл бұрын
@@RajatG69 Can u please explain why
@vishals5787
2 жыл бұрын
Had started using BNPL before lockdown. During lockdown I stopped getting my pocket money which led to me falling in the debt trap by repaying loans by taking loans. It has increased so much that i'm still paying from the last 1 year.
@mdmoruzz
2 жыл бұрын
How much penalty and interest is charged by this services if the payment is defaulted can you explain?
@pranaytejakaram2609
2 жыл бұрын
@@mdmoruzz one of my frnd took credit of 14k ,the due date is over now he unable to repay loan ,now app management is tourchering him to pay for 14k loan, they charge 2k per day as penalty, they editing his pics into nude and forwarding to his contact list peole,they hacked his phone ,plz don't use slice cards
@mdmoruzz
2 жыл бұрын
@@pranaytejakaram2609 I have heard about the sending nude kind of thing, but slice does it? 😱, and also 2k per day?
@mdmoruzz
2 жыл бұрын
@UC_LqPN5sCCBdbZrnPMKzSrQ and you are how many days late?
@pranaytejakaram2609
2 жыл бұрын
@@mdmoruzz it's of my frnd , don't know about dates
@girishsai7339
2 жыл бұрын
You made a video about cred long ago, now cred is your sponser ! WOw, your channel's growth is exponential !
@anilraghu8687
2 жыл бұрын
He is helping cred like companies to loot the country
@manjeshjaibheemraosaheb3015
2 жыл бұрын
One of the finest content KZitem creator i didn't miss a single video ....Your views helped me discuss things with maturity to my friends and family ....I even subscribed one of my friend to you ....
@manjeshjaibheemraosaheb3015
2 жыл бұрын
Tq Ganesh
@chauhanmayurs
2 жыл бұрын
Wow!!! One day you made case study on CRED and today they are sponsor. What a wonderful progress. Keep it up.
@tipushaikh5643
2 жыл бұрын
The once case study topic is now your sponsor. THIS IS WHAT GROWTH REALLY IS 🙌 Proud of you brother been here since the start❤
@rajsmora
2 жыл бұрын
If not regulated, it could cause a situation like 2008 in US
@akshayiyer8897
2 жыл бұрын
I too got reminded of this
@raghuveer4552
2 жыл бұрын
I don’t think you actually understand what happened in 2008 US. Hint: BNPL has nothing to do with it
@harshmishra4793
2 жыл бұрын
it is really helpful, finally i understand how exactly the BNPL work, lots of love to your content !
@rayedaslam
2 жыл бұрын
Frankly speaking I don't see BNPL posing a bigger threat to people of India than the instaloans apps. And RBI does not seem to be doing anything about it. Most students using bnpl don't get a credit line of more than 20000 whereas they can instantly get a loan of 1 lakh. This more likely seems like a move to save the banks of India as it is losing its future customer base.
@sensei3265
2 жыл бұрын
Jackpot
@blackcat-mp7kh
2 жыл бұрын
even you take big amount there is still friction to it. you wont spend 1lakh on unnecessary thing because we know its big amount and we have to pay interest on it but bnpl service is different because its small amount yet you will most likely to pay it on unnecessary luxury things
@ddash200
2 жыл бұрын
True that
@Sarcastic_arnv
2 жыл бұрын
bang on !! When it comes to Banks RBI turns a blind eye !!
@rayedaslam
2 жыл бұрын
@@blackcat-mp7kh if we are talking about people under 25 I don't think they can spend on luxurious items with bnpl cards. They hardly have that much credit line. Slice offers a credit line of under 10k to students. But the temptation of buying an iPhone by taking a loan from gPay cuz that rich classmate just bought one is really difficult to resist at that age with such easy instaloan options nowadays.
@RahulSingh-ij2ep
2 жыл бұрын
FYI, Kunal Shah was first person who introduced me to your channel. Here we are. Congratulations Ganesh and team. Keep growing and providing the valuable knowledge.👌🏻✌🏻✌🏻
@sushanthkumarreddy388
2 жыл бұрын
One more major reason why RBI is taking this step NOW is to reduce INFLATION. By tightening alternative credit lines, overall public consumption would decease, thereby controlling the liquidity in the economy.
@Free-use
2 жыл бұрын
Then it's the worst way or say its a poison pill
@worldofvikram
2 жыл бұрын
Do you even have a clue of what you're saying?? 🤦♂
@Saimi_Khalid
2 жыл бұрын
"Buying Unnecessary products to impress Unnecessary people" is one of the major cause of debt trab in BNPL🤣🤣
@madhavendrashenoy
2 жыл бұрын
".... to buy unnecessary stuff to impress unnecessary people..." Nailed It!!!
@mintygaming1973
2 жыл бұрын
Thumps up for the knowledge and facts just wanted to say this channel made a case study on cred and today cred is sponsoring them 📈
@kalebj7001
2 жыл бұрын
Very well presented 👍 informative and a required video for today's audience. When the BNPL was rolled out in india, the fears of dues, delay, non-payment was very much prevalent after seeing it's effect in a country like USA, albeit it is indeed a boost for indian consumerism especially when it has an inequal income dispersed population. Financial maturity and responsibility is vital when PPI are circulating in a larger demographic that bears risk. However RBI has to be mindful that it doesn't see threat similar to the NPA crises when it comes to PPI management. A regulatory organ of the RBI is very much needed to tackle such problems.
@Sudha03
2 жыл бұрын
it might go like the housing crisis in 2008 if they allow purchasing anything in bnpl without credit or lesser to consumer capabilities
@rohankrdas
2 жыл бұрын
Dude you are comparing things blindly without any context here. Just go read and then comment with some knowledge
@harishgupta46
2 жыл бұрын
One more thing I feel can happen is, BNPL raises the Demand. Due to which the companies can now raise their prices due to increased customer expenditure. This, basically leads to inflated prices of goods aka Inflation. Not very sure about my theory but that's what I felt can also be another reason for RBI to look and get into this BNPL credit load system.
@romeysaini3261
2 жыл бұрын
You’re right. Sudden shoot up of demand absolutely leads to rise in price of commodity.
@frankmuth1552
2 жыл бұрын
Successful people don't become that way overnight. Most people you see as glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray anyone who reads this will be successful in life
@savannaliwanu2054
2 жыл бұрын
It's obvious a lot people remain poor due to ignorant because of not having the knowledge that forex market is the only profitable investment you can ever think of doing
@savannaliwanu2054
2 жыл бұрын
Well, for 7year now i have trading forex and i know what forex trading have done for me and my family
@adamswei3167
2 жыл бұрын
Bitcoin is one of the most profitable trade that can earn huge profit today and still make you broke tomorrow
@adamswei3167
2 жыл бұрын
You know people after investing on bitcoin because of lack of knowledge those we not sell the bitcoin and get the money into their bank account some of them we store the bitcoin in their wallet instead of selling coin or convert it to USD
@soniairal835
2 жыл бұрын
Is not about ignorant but due to lack of unprofessional and trustworthy trader No doubts, but they're still good and trustworthy expert out there waiting for an investors
@wamankumbharkar119
2 жыл бұрын
India already has good amount of illiterates, The ones who are literate have very low financial knowledge.This is a good move as people wont fall for the debt trap.
@NehaSingh-px7ni
2 жыл бұрын
Using the term ILLITERATE for your own people doesn't sound good to me . Better use the word 'Deprived of Education' when you mean uneducated. And... when you mean literates having low financial knowledge better use Educated Illiterate . Why do we always need to bog down people who are deprived.
@wamankumbharkar119
2 жыл бұрын
@@NehaSingh-px7ni I mean what you say is correct but the sad reality is masking these things wont lead to anything,As bad it sounds financial knowledge is something every country lacks in and India is one of them inspite of knowing it we dont teach it in school or colleges its just the experiences these bad that teach u the hard way.
@jagadeesh_damarasingu
2 жыл бұрын
You can be literate, but have zero knowledge in self-finance. both are two different things. many uneducated have far better sense of finance than educated.
@isolvechess1941
2 жыл бұрын
@@NehaSingh-px7ni you can't correct a problem using diplomacy
@NehaSingh-px7ni
2 жыл бұрын
@@isolvechess1941 so are you helping people who were not fortunate to get education become literate in any way? Or just calling others illiterate to portray how educated you are. People ,understand if our country is not educated enough it's our responsibility to help those people. Saying my country is illiterate shows how irresponsible we are nothing else.
@santhilkherwal7327
2 жыл бұрын
From making case study on cred to getting sponsorship from cred, this channel has come long way through
@mathrubhumi3459
2 жыл бұрын
Any things which is not Fully Understood, Misunderstood, mis Information will lead to disaster. Even Credit Card become burden if you are not using it Properly. Buy Now Pay Later is a Good Concept. You use it Caution. A Fire can bring a Light in a House or House Set on Fire, it is not Fire 🔥 mistake, it is User mistake who invited Trouble without understanding it. Hope things got understood 👍
@adarshpatil71
2 жыл бұрын
👀🤝🏻
@SkpalTube
2 жыл бұрын
Absolutely.
@samyakjain3225
2 жыл бұрын
I never seen a person who explain each n every topic in such a manner... bro hats off to you... amazing teaching skill and much appriciate your content. keep ahead brother.
@Unova007
2 жыл бұрын
From doing a case study on CRED to now getting sponsored from CRED . Think school has come a long way.
@nizham12345
2 жыл бұрын
Nice episode. There is a reason why credit card companies vet people before issuing cards. What's sad is the same banks finding back doors through startups to issue credit to people who they would not if they walked through the same bank front doors. This is going to be a huge problem in India and its good the RBI is at least identifying an issue
@nandishwaran3372
2 жыл бұрын
Actually I'm 20 years old. I got approval from Amazon pay later with 0 Credit score.... After that I used to recharge by dad's mobile phone for Rs.155 p.m. Repeating this for 8 months, my credit score ended in 775 points... So It's a great opportunity to build credit score if used properly... And I'm happy with that 😉😀
@akhileshmehadia2534
2 жыл бұрын
This is the education the youth needs. Financial education is really important in today's world but unfortunately we have very few educators like you.
@pranavpatil1362
2 жыл бұрын
the only bnpl is ever signed up for was simpl, that too because they don't take a loan on your name(usually what bnpl companies do), and i only use it when i m getting discounts due to it, further i pay the simpl bills with my credit card and i earn good amount of rewards from it. Finally cherry to the cake i pay my credit card bills through cred and cheese the entire system responsibly 😜
@_bharathab5806
2 жыл бұрын
Is simpl going to get affected.. I am also using simpl from last three years... It's very useful...
@ishanthakur5673
2 жыл бұрын
The way you research, narrate, video graphics, and chronological order of presentation is at par amongst the best in corporate world not only in india but at global level. More power to you!
@dynamicpanda9318
2 жыл бұрын
Acc to me, it should be regulated, not banned completely. Paying money in installments is actually helpful to many people on critical points. Regulators can consider age and history as part of credit limit allowed. From what I see, it's another attempt to block credit from capable poor people and small banks, allowing it to be in the hands of big banks and rich people only.
@tashas6000
2 жыл бұрын
That is EXACTLY how I feel!!!!! It’s an attempt to shut out the people that the big banks and credit card companies don’t have time for and it’s actually unfair. If I don’t want to put my purchase on my credit card or save the money to buy it that doesn’t mean I DON’T deserve it, it means I can fully control HOW I want to pay for what I want, when I want. JMO
@yaswanthravuri8450
2 жыл бұрын
The reason I watch your every video ; 1.crystal clear explanation of the topic , even a person as dumb as me can understand easily. 2. Simple and Precise ( no other drama)
@amanshukla8372
2 жыл бұрын
Bro I literally didn't own any credit card but I own these type of buy now pay later card.. I have just relaised I have Flipkart pay later account with 25k limit, postpe account with 10K limit, simple account with 15K limit and Slice card with 20K limit. Eventually In past 1 year I have made purchases which I didn't needed I have ordered food worth 22000 using postpe and simple in a year, Bought items worth 30k from flopkart pay later and started consuming alcohol using Slice card's limit... I have managed to do payment buy just transferring money from one card to another. It sucks man.
@unknownrealms8452
2 жыл бұрын
does this loophole works 😮 great
@avaneeshdash
2 жыл бұрын
@@unknownrealms8452 it shouldn't, the regulations stops "loan and repayments" to be done via credit/pre-paid cards so its practically impossible.
@DhirajKyawal
2 жыл бұрын
There's no way you can pay off one card using the other, mister!
@amanshukla8372
2 жыл бұрын
@@DhirajKyawal I use Paytm and cred rental payment for same it cost me 1.5% of each transaction I make Mr.
@digitaldeepak21
2 жыл бұрын
Bnpl gives easy access to credit and helps increase liquidity of money in the ecosystem.
@tanvijain.
2 жыл бұрын
Rbi trying to control inflation by increasing interest rates thus reducing spending power but BNPL enhances spending power and makes RBI moves to control inflation ineffective.
@bhargavprajapati611
2 жыл бұрын
I guess it has nothing to do with inflation control...
@rufinojoseph6325
2 жыл бұрын
It can be one of the reason to control the inflation which India as well as other countries as going through. We have already seen RBI responding proactively to this by increasing the interest rate. BNPL services are being provided by various non banking firms. Most of them are linked to non Indian banking sector. Now even in offline shopping service we have Indian banks and Indian financial institutions providing BNPL services. Whereas in the online shopping sector these non banking sectors which are providing BNPL services are mostly affiliated to foreign companies are taking over the market and entering to the Indian credit system via this loop hole which was present till now. Wise decision by the RBI which proactively looked into this issue and came with a solution and regulate it. Otherwise these kind of loop holes will lead our people to a serious debt trap in near future. Just my thoughts. Nothing against anyone. Thanks
@rufinojoseph6325
2 жыл бұрын
Do give you thoughts on the comments
@vladimirputin9999
2 жыл бұрын
Yesterday I have ordered a campus running shoes from Flipkart Pay later.😐
@ayushrawat9119
2 жыл бұрын
Are you running?
@kambampati
2 жыл бұрын
Honestly I don't find any new risks with this BNPL. All points about unnecessary increase of expenditure, Interest charges etc are all existing for credit card also. Both credit card or BNPL are opportunities for disciplined customers and risk for irregular customers. RBI doesn't need to take any actions for this,I suppose
@rishavbhowmik8163
2 жыл бұрын
Nope it does not, because you Credit limit effects your CIBIL scores. So in India's it's difficult to get bankrupt with just credit cards. Also credit card solve a very import safety aspect, which is you can raise disputes on small issues which are not worthy of your time and court's time. But BNPL are doing opposite, you are bound to pay. Money collector and seller are different people in this case.
@rishavbhowmik8163
2 жыл бұрын
RBI needs to take action, so the people don't go bankrupt, as that will worsen people's purchasing power and ability to take loans for important things in life. You can close your eyes, but RBI has some responsibility. People are not smart. In USA some states have 15days pay policy (not 30 days), so that people don't spend it all at once. In India there are so many poor people who would take all their saving to home town, blow all their hard earned saving... and come back with empty pockets. While very few save money bit by bit... build home, afford education....(but they are very few)
@parodayn2594
2 жыл бұрын
Iam with this step by RBI, youngsters falling into debt trap at an early age on discretionless buying spree and later, some even indulging in crime to pay back such loans
@arpitvyas281
2 жыл бұрын
Insightful video, as usual. Just one thing, PPI stands for Prepaid Payment Instruments. Just in case someone hasn't already pointed that out.
@harshitseelam
2 жыл бұрын
Man... you are literally lit..💥💥 How do you even gather that much content
@rahulagarwal6887
2 жыл бұрын
Ganesh - BNPL used to buy unnecessary stuff for unnecessary people will cause you trouble. 20 year old kids - But I am using BNPL to purchase gifts for my internet gf/bf 🤣
@shreyashkale.3137
2 жыл бұрын
BNPL is a Double edged sword ⚔️ Use wisely & Upgrade your self or otherwise Welcome to Compounding interest never ending game # Endgame 😅😂😂
@parvsand7550
2 жыл бұрын
Okay, 1 thing is very much clear that if you will use BNPL responsibly it is a lucrative concept to use. But as Human wants are unlimited people just use this irresponsibly. Thus getting into a debt trap.
@saptarshisaha1036
2 жыл бұрын
Think school's episode is being sponsored by CRED...Wow!! What an achievement guys. Starting from making a video on CRED and now that company is with you. Proud of being a Think school viewer❤
@Vysakh_Namboothiri
2 жыл бұрын
I'm really impressed by the content your channel is offering. Thank you for all the wonderful information 💙
@kstephendaniel306
2 жыл бұрын
RBI makes policy announcement on June 20, 2022 and today July 5, 2022, Ganesh has released this video about the impact of this RBI decision ! Kudos
@syams84
2 жыл бұрын
This is utter nonsense...even these guys check for credit history and then only approve...how is it different from credit card debt trap except that it is teaser, to me it looks like RBI is trying to save banks from loosing credit card business
@earlymorningcodes6100
2 жыл бұрын
Agreed
@tarunsingh5961
2 жыл бұрын
RBI wants to keep its Monopoly in the Indian market. That is why even Crypto is a grey area. Ban culture is prevalent in India because of this. There was a threat for RBI to be diluted by these large companies. If these companies were able to operate they would be a household name in a few years. RBI doesn't like competition. These companies would make the traditional banks look like an old warehouse. Plus in India only about 5% even have credit cards that means banks can't even provide credit to the rest. These companies could easily fill up the gap and eat into the banks and other large institutions. They would have allowed regular people to get a loan which isn't easy with traditional banks.
@bdpodhar7102
2 жыл бұрын
indeed wonderful video, keep doing great work ganesh.
@dhavalshah9449
2 жыл бұрын
Another great video Ganesh. One thing worth mentioning was these cards bypass Visa/Mastercard/RuPay channels and thus it benefits the merchants and banks. Looks like RBI is getting influenced by these lobby of intermediaries ? These are wonderful instruments, .. people should just use them responsibly !.
@kishandewangan5617
2 жыл бұрын
There is one more point to this which you may consider: "RBI expects some kind of recession in 2022-2023. The problem is that people earlier didn't have much money and since two years they got credit line and created a lot of demand in market. Earlier we had fewer supplies for of things(specially apparels). Now since demand increased but supply is same this causes high inflation and that's why everywhere in the world people are now facing issues of inflation. Obviously it has other bigger factors like war but making people to not buy stuff(or spend less) will reduce demand and which in turn will reduce inflation." So this is one of the step which RBI has taken. You can correlate this with Rate of Interest which FD is providing in US/India which is now increased because banks don't want people to buy lot now and want them to hold.
@awdhootkanawade
2 жыл бұрын
The move done my RBI is good for short time but in long time RBI is targeting wrong issue You can yet in trouble by using regular credit card or loan from friends The long term solution for this problem is to include financial discipline and taxation in highschool curriculum to make our youth more financially aware
@avinashsaravanan5116
24 күн бұрын
Impressive case study..worth of reading 20-25 blogs & case study never teached in neither in school or any of the business books.Good Job
@PramodSubramanyam10
2 жыл бұрын
Another Awesome Case Study by our Think School. I have misused BNPL and paid 1000 Rs interest, when i got my first Card which was Lazypay. Then I started using it to my advantage. Now i use it for my business. It was a Liability then now it became an Asset. And guess what, I use it very frequently, and now i have Slice Card too. Thanks to BNPL, I am earning a good side income more than my salary. 😅
@piyushchugh
2 жыл бұрын
Umm...can you explain on how are you 'earning' from these BNPL cards??
@venkatkaushik1001
2 жыл бұрын
point to mention - If you use bnpl loans responsible, it can help in building a very good credit
@suyashkumarsahu7718
2 жыл бұрын
I think RBI shouldn't have banned BNPL, rather would have regulated it, if income is below 100000 credit limit of 4-5k only, if their credit score crosses 650 mark, limit can be increased. And so on.. This would help youngsters become responsible for using credit card, would get to know what credit score is and how to increase it and how to use it for your gain.. I started with Amazon pay later and now my credit score is 800+, so yeah it helps..
@alankarsingh5254
2 жыл бұрын
Income assessment is not that easy.. that too for unorganised sector or students..
@suyashkumarsahu7718
2 жыл бұрын
@@alankarsingh5254 yes, this is hard, but this is headache of BNPL and banks.. they came up with UPI, which is best payment system in world, they can figure it out using some ai/ml models..
@NikhilBalu
2 жыл бұрын
Didn't you know? Slice discontinued 3 months interest free slicing. And this BNPL cards ruins many youngster's credit score by offering credits that they cant manage in that age.
@abhinavverma9032
2 жыл бұрын
Just an update of Uni here. Uni has always been very selective when it comes to customer onboarding. Because of the default rate in the BNPL market the company chose to roll out to only specific people and was about to launch a different product for people who were on waitlist or didn't get the card.
@naveens1
2 жыл бұрын
3:49 it's not "inspite of" it should be "despite of" Inspite is used when we have enough resources and still not able to do the thing. Despite is used when we don't have enough resources and still able to do the thing
@sakibchowdhury7957
2 жыл бұрын
not 'despite of'. there is no 'of' after despite
@ABHISHEKGUPTA-wf3id
2 жыл бұрын
1) sir you have filled a nice space between trade/money making knowledge and students. 2) BNPL = CHINA debt trap acc. to me 3) a suggestion sir. you can also make vids on how/which decisions can help GOV./private indian company to shoot in future as you have a lot of knowledge now!!
@nishikantkumar2469
2 жыл бұрын
i had used flipkart pay later. it was looking great that i got credit without any trouble but its a debt trap and and i have realised as i was unable to pay the final repayment and they call u continuously everyday and 3 to 4 times.I was tensed and finally asked my father to repay and that was my life lesson that i will purchase only when i have got the money.
@unknownrealms8452
2 жыл бұрын
I also created a flipkart pay later account after this I found the t&c section which was earlier not avaliable It surely is a trap but apl is good if you are responsible
@chananarocks
2 жыл бұрын
Did the increase in order value also take into account the increase in durability and usability in terms of function and appeal for the consumer as well? Ofcourse, it's hard to quantify that by the BNPL facilitator across a varied segments and brands of products and services hosted on it's platform. Also it could make those brands uneasy in a fast-fashion market to state to accept flaws in it's lower valued products. But we can't have a discussion about the order value without taking into account how it affects the future replacements for the customer now, can we?
@ketan1718
2 жыл бұрын
The government in India did the same thing by distributing subsidies and collateral free loans.
@rushwinvaishnav3356
2 жыл бұрын
Its because they want to control inflation , if people have no money but then too they can use this system and buy things which will eventually increase the demand of stuffs . In infaltion banks high their intrest for same reason but ut cant be effective because of these fintech companies who still allow people money giving them buying power which leads to inflation , its a good descision by government.
@rushwinvaishnav3356
2 жыл бұрын
@lmao k No bro , because of covid and the war , everyone is taking back their investments in this case supply is low , if there is less supply and demand is high then that is a problem and that is inflation .
@YashAhuja000
2 жыл бұрын
You have collected a lot of data. Thanks for such a informative video. Knew about this stuff but loved to hear details from you. #thethinkschool♥️
@nkcnbc
2 жыл бұрын
BNPL is a good option for those who don’t want to do multiple upi transactions as they offer scan upi feature..
@zerokelvin4119
2 жыл бұрын
stumled into the channel, nice informative video! with concise explanation and reasoning!!
@tintin822002
2 жыл бұрын
Well done RBI. This is necessary for safeguarding middle class people.
@Ishtiaque17
2 жыл бұрын
Really nice topic to know and learn as a finance student
@randomlyUpdated
2 жыл бұрын
I use my credit card for automatic bill payments, so that I don't have to worry about paying on time. Also I use credit card only if I already have the equivalent money in my account. This helps to keep your money in hand and take advantage of interest free money from bank. This inturn helps me to use the money in my hand in case of an emergency. I said this here because I see people working just to pay off their credit card bills.
@ashwinatresh4278
2 жыл бұрын
That's the golden rule which most of them won't talk. Always hedge your credit card swipe with an identical amount in liquid value in the Bank a/c. Hedging your current purchases with future unearned income is bad math
@hreedishkakoty6771
2 жыл бұрын
Hi Ganesh, this is an excellent video, more because younger lot in their teens and early twenties need to understand that money is never free, and any debt is going to bite back. This, I feel, is more a awareness video on top of being accurately informative about the BNPL industry. My only suggestion is, maybe you could have included some parallels between dangers of BNPL and what happened in US in 2008 when people who could not afford house loans were given loans, and the default of those loans led to an economic crash. There are useful lessons in the past in the world economy that we can learn and resolve not to make those mistakes in India. Kudos to your hard work on such topics and always waiting for the next one.
@DAdnani
2 жыл бұрын
Correction : Slice Has Started Taking Interest , If We Split The Bill Into Months , You Don't Have To Pay Extra Interest If You Pay On All Money In One Shot
@ThinkSchool
2 жыл бұрын
It’s still available for select customers now bro.
@DAdnani
2 жыл бұрын
@@ThinkSchool Ohhkayy 😅🙃
@mayurnmahajan
2 жыл бұрын
I still have the option to pay in 3 installment without any interest.
@mystic.saurav
2 жыл бұрын
Very good point: People need to use it responsibly. If you're planning to spend the card for buying unnecessary gifts to impress unnecessary people - STOP
@sayan4073
2 жыл бұрын
The fact that you repeatedly mentioned Jupiter through pictures in the video, just to clarify that's a 'neobank' and NOT any BNPL service provider. It's a proper RBI regd. payment app partnered with The Federal Bank which is one of the largest private sector banks in India. P.S.: This isn't any paid promotion of Jupiter. I'm a mere user of the Jupiter app and yes, I personally love it's UI and it's overall service!
@ThinkSchool
2 жыл бұрын
inc42.com/buzz/jupiter-kreditbee-shut-prepaid-card-operations-amid-rbis-credit-ban-on-fintech-ppis/ Read this bro. It’s about PPI not just BNPL
@AkhilAniyan
2 жыл бұрын
I cannot stop watching your videos. Well explained "facts"! Good work, bro!
@krishnabharadwaj4715
2 жыл бұрын
Good move by RBI. These companies are unethical targeting low income individuals with predatory interest rates. Miss one payment, it will shake you.
@SilverFang_
2 жыл бұрын
My General Knowledge has increaseds drastically by watching your videos Thanks Man
@surajudeenalutuko630
2 жыл бұрын
Mrs Clarissa's is legit and her method works like magic I keep on earning every single week with her new strategy
@bishopokoli7456
2 жыл бұрын
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Clarissa I think she is the best broker I ever seen
@shamsudeenlurwanu6022
2 жыл бұрын
I also trade with her, and earn $2,600 every week. All my family have been trading with her and making profits
@abubakar69ibrahim71
2 жыл бұрын
I still wonder how she gets her analysis, I got profit of $28, 609 with a capital of $4000 in 16 days of trading with her
@umarmuhammed5945
2 жыл бұрын
I'm from England, is I and two other of my friends tried her immediately we testified, her performing wonders🏴
@musasaminu5186
2 жыл бұрын
Please how do I get in touch with MRS CLARISSA
@jitendraparida1696
2 жыл бұрын
Brother ecommerce companies are like Flipkart and Amazon they are also giving these types of BNPL features and they charge a huge amount of the person unable to pay in the time .......RBI also need to go through it.and i am thinking like u can also make a video on this for the JAGRUK JANTA🙏
@HRHKamal
2 жыл бұрын
BNPL is a dangerous habit. RBI has done the right thing aa this "convenience" leads lakhs of people in splurging beyond their means & getting into a debt trap. It is important to focus on that aspect rather than cry about the impact on the companies providing this seductive "service". And Think school should avoid criticising just for the sake of criticism. Thumbs down for this video 👎
@harisewak1
2 жыл бұрын
Isn't that what he said in the end?
@sahilhotchandani3668
2 жыл бұрын
@@harisewak1 jaanede bhai usne pura video nahi dekha😂pehele hi apna pov pel dia
@unitedteam1208
2 жыл бұрын
The dark side which you are talking about is irresponsible use by people. For me, Slice has been a game-changer in the last 1.5 years. It has improved my credit score, initially, no one was giving me a credit card despite earning 30-35k from freelancing. Then Slice came into the picture and now everything is different, with better financial position and credit history. It's all about responsible usage and timely payments. Rather than getting rid of it and to please banks who cannot sell their fuc***ing credit card, RBI should focus on making people more aware of responsible usage of the BNPL system like they do with OTP and all. Everyone in the comments are like ha ban kardo and shit, it doesn't work like that.
@rahman8696
2 жыл бұрын
The irony is Think School is promoting CRED , which actually is sort of in a bubble about to burst sooner or later! But Kudos to the amazing content you're creating.
@shammah23in
2 жыл бұрын
No matter what payment method one uses, if it is 'unnecessary purchase to please unnecessary people', it will put you into trouble.. Good one 👍
@SuBhAmVLoGS
2 жыл бұрын
unnecessary stuffs to impress unnecessary people....this line is deep....i was the same guy using BNPL recklessly but soon realized its downside.....but from the last 3-4 months have stopped using it.....will only use when it is that necessary..thank q think school for this wonderful video
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